$TUES BK isn't finalized for a month but it appears that the RO is fixed and nobody seems to be contesting it. It shows that that the backstop fund will be putting 16M in and also will buy anything the shareholders don't of the remaining 24M. The backstop fund would not be able to buy 16M+ worth in the open market without running the share price way above $1.1 pps thus it is a great way for them to deploy significant capital. Other institutions that want access to these rights may start buying up the common sooner than later since all shares will be getting a pro-rated right for each share. Also if there is another fund out there that wants a 5% position you could easily see current pps go up 10% TO 20%.
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